TAX QUESTIONS
2017-04-12, 02:58 AM,
#1
For people reporting their CPA earnings to taxes (which by the way YOU SHOULD) If you don't they will find you :/

Anyways, my CPA earnings aren't that much but I really invested a lot into web servers, domain names, services, ect. Can all that stuff be tax deducted?
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2017-04-12, 03:20 AM,
#2
If you really want that kind of stuff to be deducted, then you need to be registered as a business. They wouldn't care about it if you are an individual, it will be counted as an personal expense. A friend of mine who is an accountant told me this.
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2017-04-12, 03:30 AM,
#3
yes you can as long as you have official receipts saved from it

NA
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2017-04-12, 04:51 AM,
#4
Yea, that can be tax deducted if you print all of records from your PayPal or bank to them. I went through all of that hassle just a couple days ago and paying somebody to help me sort everything out. Also according to turbotax, if you didn't earn $10,350 or more last year then you don't have to file a tax return. But it's probably good to hire somebody to help so you could avoid any problems :)

If you're good enough, nobody is stopping you!
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2017-04-12, 05:28 AM,
#5
(2017-04-12, 03:20 AM)finnishhacker Wrote: If you really want that kind of stuff to be deducted, then you need to be registered as a business. They wouldn't care about it if you are an individual, it will be counted as an personal expense. A friend of mine who is an accountant told me this.

That's the way it is where I live, too. Except you don't have to be registered. If you file your return as a business, that's enough to claim expenses. Costs quite a bit more for H&R Block to do your taxes as a biz, too.

Here, if you make less than $30,000 per year from your self-employment income, you don't have to register as a company but you can still file as a business.
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2017-04-12, 08:52 AM,
#6
So guys, if I made under 2,000 total this year I would not have to file them? Thanks for your help!
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2017-04-12, 02:14 PM,
#7
(2017-04-12, 08:52 AM)WealthyHustler Wrote: So guys, if I made under 2,000 total this year I would not have to file them? Thanks for your help!

To be sure, you need to ask someone from your country, because laws are different in different countries, and if you read the replies above, all have different rules. $2000 is a very small ammount and doesn't even need to be declared in the first place.

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2017-04-14, 02:55 AM,
#8
(2017-04-12, 02:58 AM)WealthyHustler Wrote: For people reporting their CPA earnings to taxes (which by the way YOU SHOULD) If you don't they will find you :/

Anyways, my CPA earnings aren't that much but I really invested a lot into web servers, domain names, services, ect. Can all that stuff be tax deducted?

Ofcourse your expenses could be tax deducted. You only need to pay for your net earning.
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2017-04-14, 07:39 AM,
#9
but do you need all invoices.... of your spend money.

i think that is better not report the earnings. The goverment not know us really identification in internet
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2017-04-14, 08:31 AM,
#10
I just paid taxes (My SSN taxes) which was complete rubbish. I didn't make that much last year but I still had to pay a lot just for my SSN taxes which I don't fully understand. Barely have anything in my bank after they make that payment so I'm basically starting from zero but still getting some income on a daily basis.

It made me real mad but I'm using it and all of that anger for motivation to get more. :\

If you're good enough, nobody is stopping you!
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